Monday, November 28, 2011
FDI in Multibrand not required
There is great justification in the opposition from all sections of the society and political groups in the country to allow Foreign Direct Investment to the extent of 51 percent in setting up giant multi brands Malls in the country. We should not forget the fact that East India Company which entered India in the garb of a trading company ultimately became our masters and rulers for 200 years. On one hand we proclaim to be the third emerging economy of the word and on the other hand we are permitting foreign companies to enter and control our internal markets in sensitive areas. This is grossly detriment to our economic interests. There is no dearth of big corporate houses with ample financial back up who can strengthen our marketing networks without disturbing the employment of small ,marginal shop keepers and logistic supporters. Already there are big stores like Reliance, Big Bazar and Spencers to name a few who are serving the cause of both the producers and consumers without causing any tremors. The supply and demand will guide the local entrepreneurs for future requirements.